MAM
Jaquar Group announces support to para-athlete Sumit Antil
Mumbai: The Jaquar Foundation, the CSR arm of Jaquar Group, on Monday announced their continued support to Sumit Antil for training and equipment for the next Paralympic events in 2024. The Indian para-athlete won the gold medal in Javelin throw at the Tokyo 2020 Paralympic Games.
“This is a gesture from the brand to encourage Antil and thousands of other young athletes like him who are relentlessly working hard to make India shine on the map of world sport,” said the statement.
“The recent honour that Sumit has brought to the country is just the beginning of where Indian sports is headed,” said Jaquar Foundation, head, Kanwar Shamsher Relan. “This year, Jaquar has extended its support to one of the most inspiring Paralympian in India- Sumit Antil. This will not only ensure that he gets access to world-class facilities and equipment but also inspire other aspiring athletes to pursue their dreams.”
At the age of 17, Sumit lost his left leg during a motorbike accident. He had always dreamt of joining the Indian Army, but the accident shattered his dreams. Sumit was introduced to para-athletics during college and showed a great skill for Javelin throw very early in his career. Today, he holds the world record in the javelin throw with a distance of 68.55 m. In the process of winning the gold medal in the Paralympics Final 2021, Sumit made three new world records in Javelin throw, breaking his own.
“I am thrilled and grateful for Jaquar Foundation to have come forward and extend their support to me for the coming four years,” said Sumit Antil. “The facilities, equipment and training of international standards will help me work towards my goal for Paralympics 2024- bring more pride and recognition to the nation. I hope that this initiative galvanises further support for athletes like us.”
Brands
Reserve Bank of India cancels Paytm Payments Bank licence
Central bank cites compliance failures; curbs tighten as wind-up looms
MUMBAI: India’s banking watchdog delivered its sharpest blow yet to Paytm Payments Bank, cancelling its licence and effectively ending its ability to operate as a bank under the law.
The Reserve Bank of India said the entity can no longer conduct banking business under the Banking Regulation Act, citing concerns that its affairs were not being run in the interest of depositors or the public and that it had failed to meet licence conditions.
The move escalates a crackdown that has been building for months. The bank had already been barred from onboarding new customers since March 11, 2022, and later faced restrictions on deposits, credit and wallet top-ups. In January 2024, the central bank ordered it to stop accepting fresh deposits, pointing to persistent non-compliance, including lapses in customer due diligence, use of funds and technology systems.
Operationally, the bank is now on a tight leash. It may process withdrawals of existing deposits and facilitate loan referrals through banking correspondents, but it cannot take fresh deposits.
The central bank said it would apply to the high court to wind up the bank.
Paytm sought to ringfence the fallout. In a regulatory filing, it said the licence cancellation applies to Paytm Payments Bank Limited, a separate entity, and should not be attributed to One 97 Communications. It added that there is no exposure or material business arrangement with the bank and that it operates independently, without Paytm’s board or management involvement.
“As informed earlier, Paytm (One 97 Communications Limited) and its services, which have been operating without interruption, will continue to operate uninterrupted. These include the Paytm app, Paytm UPI, Paytm Gold and all other services offered by its subsidiaries and associated companies,” the company said.
The distinction may reassure users of the app ecosystem, but the regulator’s verdict is unequivocal. After years of warnings, caps and curbs, the payments bank experiment at Paytm is being shut down—decisively, and with little room left to manoeuvre.
